Derived from The Daily Hodl, an analyst known as Rekt Capital, who accurately predicted Bitcoin's pre-halving correction, outlines a potential worst-case scenario for Bitcoin as it trades at $97,158. The analyst suggests that Bitcoin, currently in a parabolic uptrend, could face a significant decline if it loses the support level around $97,000. Historical patterns indicate that Bitcoin could experience a pullback of 29% to 40% before potentially rallying again. This prediction is based on past cycles where similar corrections occurred, such as a 34% dip in 2016. The analyst emphasizes the importance of understanding these corrective periods to anticipate future price movements.
Analyst Predicts Bitcoin Could Drop 29-40% Amid Current Correction
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